Altech Chemicals proposes renaming the company to Altech Batteries Limited
An international battery technology company, Altech Chemicals, holding a joint venture agreement with Fraunhofer IKTS, which manufactures the revolutionary CERENERGY® Sodium Alumina Solid State (SAS) Battery, has announced that, following a Board of Directors meeting, the Board has decided to change the company's name to 'Altech Batteries Limited'.
However, the name change will require shareholders' approval at the next General Meeting in 2023. Iggy Tan, the Managing Director, stated in the 2022 Annual Report, “the Company is undergoing a transition to be a battery energy company to meet a battery storage future."
Altech intends to keep its current ASX ticker "ATC." The Board of Directors believes that the proposed new name reflects Altech's vision of a battery storage future as the world transitions to the electrification of energy solutions. The proposed name corresponds to the business and market segments of Altech's three current projects.
The company also believes that the proposed name will empower for more effective marketing of the Company's future products.
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